Account Recovery

MARCH 11, 2025

Why it matters: For professionals in debt collection agencies, debt buying companies, fintechs, banks, credit unions, and consumer finance firms, these findings underscore a growing vulnerability among older borrowers. For many retirees, who often live on a fixed income, its a real challenge to pay down debt without significant trade-offs.

Credit Card Debt 130

Credit Card Debt Credit Unions Credit Unions Debt Buying 130

Account Recovery

FEBRUARY 27, 2025

Professionals at debt collection agencies, fintechs, and banks can expect to interact with borrowers who dont fit the typical risk profile yet face the same liquidity crunch. For creditors, staying ahead means tailoring repayment solutions that minimize friction like flexible payment plans, mobile tools, and improved customer education.

Collections Agency 130

Collections Agency Collection Agencies Education Loans 130

Jimerson Firm

DECEMBER 10, 2021

Many secured creditors and equipment leasing companies have encountered defaulted debts, where the debtors and lessees retain possession of the collateral, including cars, boats, machinery, or other equipment. What Options do Florida Creditors Have for the Recovery of Personal Property? Self-Help Repossession.

Secured Creditor 98

Secured Creditor Repossession Collateral Creditors 98

Account Recovery

APRIL 8, 2025

returns capital to banks and other creditors to help expand financial services for consumers in the Americas, Europe and Australia. Sjolund holds an MBA from the University of Chicago and is a graduate of Georgetown University. About PRA GroupAs a global leader in acquiring and collecting nonperforming loans, PRA Group, Inc.

Debt Buying 130

Debt Buying Loans Financial services Creditors 130

Account Recovery

DECEMBER 30, 2024

Gretchen Whitmer, introduces substantial changes to how creditors can collect debts and what assets debtors can protect. Virginia Proposed legislation in Virginia seeks to provide financial breathing room for consumers by automatically exempting the last $5,000 in a bank account from garnishment.

Garnishment 130

Garnishment Debtor Collections Agency Collection Agencies 130

UK debt collections

OCTOBER 2, 2024

The administrators of a collapsed Liverpool law firm have admitted they do not know if creditors will receive a return, amid ongoing uncertainty over exactly how the business came to grief. Meanwhile, the amount owed to creditors within a year jumped from £5.8m a year before. Headcount grew from 24 in 2022 to 69 a year later.

Law Firms 82

Law Firms Creditors Secured Creditor Trade 82

Credit Corp

JUNE 3, 2021

Can debt collectors take money from your bank account to offset debts you owe them? How to Open a Bank Account That No Creditor Can Touch. In truth, it’s fairly rare to have a bank account that no creditor can touch. The original creditor takes some actions to collect, sending you bills and statements.

Debt collector 92

Debt collector Banks Garnishment Creditors 92

Account Recovery

JANUARY 13, 2025

The background: The dispute stemmed from a credit card account the plaintiff opened in 2016 with the original creditor. According to the plaintiff, the account terms were established during a phone call with a representative, who promised a zero-percent interest rate for the life of the loan and no fees beyond the principal.

Debt collector 130

Debt collector Fair Debt Collection Original Creditor Creditors 130

Account Recovery

AUGUST 10, 2020

Logicoll represents creditors in the resolution of outstanding consumer credit accounts. Our company provides compliant recovery solutions for organizations with outstanding receivables including major banks, credit card issuers, auto financing companies, fintech lenders, and more.

Collections Agency 147

Collections Agency Collection Agencies Creditors Lender 147

Account Recovery

FEBRUARY 18, 2025

More bankruptcies mean higher charge-offs for creditors and increased reliance on third-party collection agencies. The banking industries who create these uniform agreements are better positioned to rectify this issue than the consumers the FDCPA seeks to protect. Translation: to CYA, you need better original creditor contracts.]

Fair Debt Collection 130

Fair Debt Collection Law Firms Bankruptcy Judgment 130

Better Credit Blog

DECEMBER 31, 2020

Have a hard inquiry on your credit report from Comenity Bank/VCTRSSEC? Comenity Bank/VCTRSSEC On My Credit Report. Comenity Bank is a premier producer of retail credit cards, partnering with 145 popular brands to offer credit cards to consumers. How Does a Comenity Bank/VCTRSSEC Hard Inquiry Affect Your Credit Report?

Banks 89

Banks Retail Lender Repossession 89

Hudson Weir

FEBRUARY 11, 2025

If youre trying to find out what does IBR mean or what does IBR stand for in a business or banking context, thats understandable as there are some conflicting answers online. Banks often initiate IBRs when they have concerns about the borrowing companys financial stability or solvency. IBR stands for Independent Business Review.

Trade 52

Trade Banks Lender Loans 52

Account Recovery

AUGUST 14, 2024

The original lawsuit centered around whether the current creditor to whom the debt was owed was properly identified in a collection letter. The Background: The plaintiff defaulted on a credit card debt that was owed to First Premier Bank.

Credit Card Debt 130

Credit Card Debt Fair Debt Collection Collections Agency Collection Agencies 130

FFGN COLLECT NY

MAY 8, 2024

In April, following an investigation by Attorney General Leticia James’ office, Pathward (formerly known as MetaBank) was required to refund money to account holders after unlawfully sending frozen deposits to creditors. In addition to refunding the monies, the bank also had to pay penalties for the unlawful freezing of the bank accounts.

Banks 52

Banks Debt collector Judgment Creditors 52

Account Recovery

FEBRUARY 18, 2025

Over the next decade and a half, he held leadership roles with major originating creditors across the U.S. Prior to that, he spent 8 years in various areas of banking, primarily Commercial Lending. He is the CEO of TrueAccord. His journey in the industry began on the phones as a collector in 1998. and internationally.

Collections Agency 130

Collections Agency Collection Agencies Law Firms Original Creditor 130

Account Recovery

FEBRUARY 28, 2023

A … The post Ninth Circuit Affirms Dismissal of Creditor’s Suit Over Debt Collection Phone Calls first appeared on AccountsRecovery.net. A … The post Ninth Circuit Affirms Dismissal of Creditor’s Suit Over Debt Collection Phone Calls first appeared on AccountsRecovery.net.

Fair Debt Collection 130

Fair Debt Collection Collections Creditors Banks 130

Account Recovery

JULY 26, 2023

In an announcement that is likely to have every creditor — especially those in the financial services industry — reaching out to their third-party partners, the Office of the Comptroller of the Currency yesterday announced that American Express National Bank has paid a $15 million fine for not properly governing or overseeing how a third-party (..)

Financial services 130

Financial services Creditors Government Banks 130

Account Recovery

DECEMBER 16, 2024

The FCRA does not require creditors to obtain a consumer’s consent to report account information, nor does it offer an “opt-out” provision for credit reporting. Additionally, the plaintiff did not adequately demonstrate that the defendant failed to investigate disputes or provide factual inaccuracies to credit bureaus.

Fair Debt Collection 130

Fair Debt Collection Financial Institution Creditors Loans 130

Nexa Collect

NOVEMBER 1, 2021

Individuals can be legally forced to pay their debts with their cryptocurrency, but the creditor must have a judgment which states that the debtor is obligated to pay off the debt, including any cryptocurrency they own. In this way, the payer’s bank initiates payment to the merchant’s bank. government earlier before?

Debtor 130

Debtor Creditors Government Banks 130

Collections Law

JULY 25, 2024

With a thorough understanding of the idiosyncrasies of Massachusetts collections laws, they can lend their extensive knowledge to your company’s outstanding debts with post-judgment collection strategies, like bank attachments. What is a bank attachment? A bank attachment is a powerful post-judgment collection tool.

Judgment 52

Judgment Banks Garnishment Commercial Collection 52

Account Recovery

SEPTEMBER 10, 2024

Murphy’s nearly three decades of industry experience includes serving most recently as a partner in McKinsey & Company’s Banking and Risk divisions, where he spearheaded client service for major financial institutions and led their Global Fraud Service Line. Early in his career, he was also an engineer at Ford Motor Company.

Manufacturing 130

Manufacturing Financial services Financial Institution Banks 130

Jimerson Firm

NOVEMBER 27, 2023

Any secured creditor, large or small, may encounter a situation in which it is preferable to retain or recover the collateral in a transaction without having to sell the collateral itself. The purpose of this article is to make creditors aware of what is and is not possible to do under Florida law. 679.609(1). 679.620(6). Spellman v.

Secured Creditor 59

Secured Creditor Collateral Creditors Debtor 59

Account Recovery

MARCH 10, 2025

In addition, in April 2024, the NYAG secured over $700,000 from Pathward, National Association, a national bank formerly known as MetaBank because of an investigation that found Pathward froze accounts in violation of the EIPA.

Debt collector 130

Debt collector Fair Debt Collection Debtor Judgment 130

Burr Forman

AUGUST 19, 2021

Paul Durdaller – Atlanta, Litigation and Banking and Finance. Paul Durdaller – Litigation, Banking and Finance. Erich Durlacher – Bankruptcy and Creditor Debtor Rights / Insolvency and Reorganization Law. Ed Snow – Banking and Finance Law, Commercial Finance Law, Securitization and Structured Finance Law. Birmingham.

Lawyers 105

Lawyers Construction Acquisition Bankruptcy 105

In the Red

MARCH 23, 2020

When a company is insolvent, meaning it’s not able to pay its creditors in full, the directors and officers still owe their fiduciary duties of due care and loyalty to the corporation. However, upon insolvency, creditors have standing to bring derivative claims for breach of fiduciary duty against directors and officers.

Creditors 130

Creditors Lender Judgment Government 130

In the Red

MARCH 23, 2020

When a company is insolvent, meaning it’s not able to pay its creditors in full, the directors and officers still owe their fiduciary duties of due care and loyalty to the corporation. However, upon insolvency, creditors have standing to bring derivative claims for breach of fiduciary duty against directors and officers.

Creditors 130

Creditors Lender Judgment Government 130

In the Red

MARCH 23, 2020

When a company is insolvent, meaning it’s not able to pay its creditors in full, the directors and officers still owe their fiduciary duties of due care and loyalty to the corporation. However, upon insolvency, creditors have standing to bring derivative claims for breach of fiduciary duty against directors and officers.

Creditors 130

Creditors Lender Judgment Government 130

FFGN COLLECT NY

MARCH 25, 2024

They include: A multi-faceted approach: A judgment creditor is not limited to taking it one step at a time. The creditor can execute in a variety of ways at the same time. Enforcing Judgments against bank accounts An easy way to enforce a judgment in New York is to restrain bank accounts.

Lawyers 98

Lawyers Judgment Collections Judgment Enforcement 98

FFGN COLLECT NY

OCTOBER 20, 2021

When considering what funds are exempt from judgment enforcement and the reach of judgment creditors, New York and the federal government draw a line between enforcing judgments against consumers and enforcing judgments against commercial entities. Social security disability (SSD). Supplemental security income (SSI).

Judgment Enforcement 98

Judgment Enforcement Judgment Debtor Creditors 98

Collections Law

DECEMBER 1, 2022

Aggressive and Relentless Collection Tactics Legal tactics that can result in payment can include: Bank attachments. A trustee attachment is a legal tactic allowing a creditor to freeze monies in non-exempt bank accounts. As the name provides, this tactic gives the creditor a security interest in the debtor’s real estate.

Collections 98

Collections Commercial Collection Creditors Debtor 98

Jimerson Firm

FEBRUARY 10, 2022

The first consideration that lenders (banks and credit unions alike) often face is when, and if, to conclude that the account owner does not intend to, or is not able to, clear the negative balance or loan deficiency. Bank of Am. , Charging Off” Uncollectable Debt. 1.6050P-1(b)(2)(i). For example, in Ware v.

Lender 98

Lender Credit Unions Credit Unions Collections 98

Jimerson Firm

APRIL 9, 2024

When a court enters a civil money judgment, it creates a judgment debtor and a judgment creditor. If the judgment debtor fails or refuses to pay the amount of the judgment, the judgment creditor may elect to use statutory collection methods to partially or fully satisfy the judgment. on one’s vehicle.

Judgment 105

Judgment Debtor Creditors Collections 105

Nexa Collect

APRIL 27, 2021

Creditors and collection agencies who prefer to do credit reporting quickly will likely see lower recovery rates. However, by law, they cannot be reported before 180 days anyway. The fear in the debtor’s mind is gone. However, collection agencies that delay credit reporting keep this valuable tool for later use.

Collections Agency 130

Collections Agency Collection Agencies Debtor Debt Recovery 130

Jimerson Firm

NOVEMBER 23, 2020

Self-Help Repossession: In Florida, a secured creditor may use self-help repossession to take possession of collateral, provided its efforts do not breach the peace. Florida case law provides that a breach of the peace occurs if the secured creditor enters the debtor’s land to repossess the collateral, without the debtor’s consent.

Collateral 98

Collateral Loans Secured Creditor Lender 98

Nexa Collect

MARCH 12, 2021

The CFPB has the authority to stretch its long arm as far as the most remote corner of the United States and its territories in order to supervise and audit local banks, credit unions, payday lenders, debt collection agencies, and more. The first thing to keep in mind is that the FDCPA applies there just like anywhere else.

Collections Agency 130

Collections Agency Collection Agencies Collections Garnishment 130

The Kaplan Group

AUGUST 6, 2020

This means that creditors can come after your personal assets to pay off business debt. Creditors can also try to “pierce the corporate veil” and seek payment from shareholders if you pay personal expenses with business funds. You should know that once a judgment is issued the creditor can get a lien. Declare Bankruptcy.

Garnishment 105

Garnishment Bankruptcy Creditors Debtor 105

FFGN COLLECT NY

OCTOBER 15, 2024

Some assets may pass outside of someone’s estate or administration (if they died without a will), which means they cannot satisfy the amount owed to you, the creditor. These are examples of assets that can be marshaled and liquidated to satisfy the claims of creditors. Take, for example, real property owned jointly by husband and wife.

Collections 52

Collections Judgment Debtor Creditors 52